Canfor (TSE:CFP) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Canfor Co. (TSE:CFP) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.70 and traded as low as C$14.55. Canfor shares last traded at C$14.91, with a volume of 337,787 shares trading hands.

Wall Street Analysts Forecast Growth

CFP has been the subject of a number of analyst reports. CIBC boosted their price target on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. TD Securities lowered their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. BMO Capital Markets cut shares of Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. Royal Bank of Canada dropped their target price on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, December 20th. Finally, Raymond James upgraded Canfor from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$21.33.

Canfor Stock Down 0.6 %

The firm has a market cap of C$1.77 billion, a P/E ratio of -4.42 and a beta of 2.08. The firm’s fifty day moving average is C$16.64 and its 200 day moving average is C$15.70. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.